Call Options Trade Briskly
As U.S. Stocks Climb Higher

NEW YORK -- Call options traded briskly Thursday as stocks pushed higher after the government reduced the terror-alert level to yellow from orange.

Some investors bought calls -- the right to buy a stock at a certain price -- to ride the rally or cover short bets. But traders said a good part of the call-trading volume was tied to investors seizing the opportunity to sell short-term call options, essentially to earn a premium while...